Best Forex Automated System Top Ranking: November 2012

evancarmichael.com - Top Forex Trading System

Top Forex Trading System are those that employ MT4 and uses a high profit factor, low dawn down and high return of investment Expert Advisors running 24 hours continuously to gain passive income automatically. Simple or difficult? Or both?

Simple

Let’s talk about each portion to understand further. First is Forex Trading. Forex is the foreign exchange market where people come to buy and sell currency. Trading is an action that results in profit and losses. MT4 is MetaTrader 4 which is a Forex Trading Platform which enables traders to login into their Forex Trading Account and use charting to trade Forex. MT4 also has a built in programming language to translate trading strategies into programs software that can run automatically on MT4 tradind platform. The results of such program are called Expert Advisors and they can run 24/7 automatically. With profitable trading strategy, giving high profit factor, low dawn down and high return of investment, you can gain passive income with this setup. Simply follow below 5 steps.

Step 1: Sign up for a Forex Trading account with a Forex Trading broker

Step 2: Fund money into your trading account

Step 3: Install MT4 software

Step 4: Load profitable Expert Advisor

Step 5: Gain passive income!

Difficult

The difficult portion is selection of Forex Broker, selection of Expert Advisor and setting up your trading lots size. Sound simple, well look again.

There are many Forex Broker, namely FXCM, Forex.com, Alpari, MIGFX, etc are well known and established Forex Broker. You can choose any other broker but please select broker that is established and easy to fund/withdraw money. The broker should also allow you to check and trade your trading account using MT4 platform. Allow a leverage of at least 100:1 and able to deposit fund in default United State Dollar. (This is the most widely traded currency and many currency pairs uses this currency rate exchange).

There are many Expert Advisors and only few are profitable consistently. Always look at Expert Advisors that run on MT4 platform and have a high profit factor of more then 2. Through out all the trades, it should have low dawn down at less then 20% and a high return rate of return of 50% annually. This is necessary to avoid margin call and allow you better returns then putting your money in banks, unit trust or stocks. (Warran Buffet shares return are at about 25% annually.)

Setting of trading lot size are using money management effectively during Forex Trading. Due to the high risk of Forex Trading, always calculate your maximum drawn down with margin required to hold for your open trades. This can be easily calculated by using your trading account leverage and 100k contract and your available capital for trading.

Both Simple and Difficult

The good news is that there are already software that have built in money management that will adjust and grow your trading lots size as your capital grow. The tough portion is to select those software Expert Advisor that profit and grow your trading account without wiping out by margin call or maximum losses.

Although passive income seems possible by follow the above 5 steps, but due to the change currency market demand and world wide crises emerging, you still need to monitor and fine-tune the Expert Advisor periodically to ensure losing software are removed and new profitable Advisor are added.

Visit my website for more information on selection of Expert Advisor and creating your own Expert Advisor.

source http://www.evancarmichael.com/Business-Financing/7136/Top-Forex-Trading-System.html

A straightforward guide to trading today's dynamic Forex market

Written by Wayne McDonell, the Chief Currency Coach at FX Bootcamp, this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade. Along the way, McDonell takes the time to discuss the various challenges a Forex trader faces, such as greed, fear, loss, and isolation. As a Forex trader and educator of traders, Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp's Guide to Strategic and Tactical Forex Trading he shows readers how.

Editorial Reviews

From the Inside Flap

In The Art of War, renowned military strategist Sun Tzu states, "The general who wins the battle makes many calculations in his temple before the battle is fought. The general who loses makes but few calculations beforehand." While this observation comes from one of the oldest military treatises in the world, it's an important piece of advice for traders looking to win in today's dynamic Forex market.As the Chief Currency Coach at FX Bootcamp, author Wayne McDonell helps clients around the world excel in the Forex field by training them to develop and execute a trading plan with military precision. Why does this approach work so well? The answer is simple???trading Forex is similar to war in that they are both zero-sum games, and in Forex trading, this means that one trader's gain can only come from another's equivalent loss. So, outthinking your opponent is essential to victory in both of these arenas.

Divided into five comprehensive parts, The FX Bootcamp's Guide to Strategic and Tactical Forex Trading puts this competitive market in perspective and shows you how to achieve success within it. This reliable resource opens with a detailed look at the technical indicators you'll need to use in your trading endeavors. From here, you'll discover how to combine these popular indicators to formulate a comprehensive strategy and learn how to use this information to create a tactical trading plan???one that will help you pull the trigger to get in and out of trades.

Besides introducing you to a proven Forex trading methodology and showing you how to improve performance by running your trading operations like a business, this book also addresses some the most important psychological aspects of trading???including greed, fear, loss, and isolation???and discusses what you must do to overcome such obstacles.

In Forex trading, patience and discipline are just as important as technical and fundamental analysis. With The FX Bootcamp's Guide to Strategic and Tactical Forex Trading, you'll discover how developing positive trading habits and the right trading skills will put you in a better position to profit over the long haul.

From the Back Cover

Praise for The FX Bootcamp's GUIDE TO Strategic and Tactical Forex Trading"Wayne McDonell is the most popular Forex speaker on our Web site. His live training and educational events draw large crowds of traders because he can explain complex Forex trading concepts in a common language that anyone can understand. This book does the same. I highly recommend it."

—Francesc Riverola, CEO of FXstreet.com

"If you're looking for specific strategies and methods for making money with currency trading, you need to start reading this book today. Wayne knows from experience what it takes to succeed in the Forex markets. He provides step-by-step instructions and explains in common language what to look for in charts and in the news to find profitable trades immediately. Don't make a single Forex trade until you've read this book!"

—Tim Bourquin, founder of The Forex Trading Expo

With The FX Bootcamp's Guide to Strategic and Tactical Forex Trading, McDonell shares his invaluable experience as a Forex trader and commodities trading advisor with you. Filled with in-depth insights and practical advice, this straightforward guide will teach you how to think for yourself and trade successfully—relying on your own technical, fundamental, and even psychological analysis. First, you'll become familiar with the indicators—from moving averages to price support and resistance—that form the foundation of the trading methodologies discussed in the book. Then, you'll discover how to put together a trading plan, and trade that plan for maximum profits. Along the way, McDonell also takes the time to discuss the various challenges you may face while trading Forex and explains how treating your trading operations like a business can improve overall performance.

If you want to be a successful Forex trader, you must have a firm understanding of how the global market works and how to trade it. With The FX Bootcamp's Guide to Strategic and Tactical Forex Trading, you'll quickly learn how to gather intelligence, formulate a strategy, and confidently pull the trading trigger.

About the Author

WAYNE McDONELL is the Chief Currency Coach of FX Bootcamp (www.fxbootcamp.com), a live Forex training organization. He is a professional Forex trader, a member of the National Futures Association, and a registered Commodities Trading Advisor. Respected in the Forex industry as a successful trainer, McDonell is a regular speaker at major investing conferences and expos in Asia, Europe, and America. His videos are syndicated around the world on outlets including Forex Television, FXstreet.com, MoneyShow.com, and MSN. His live trading Webinars have attracted up to 1,000 traders each. McDonell has written "how-to" articles for investing magazines, such as Your Trading Edge and the FOREX Journal magazine. He has also received notoriety in the National Post, TechWeek, Interactive Week, and Inc. magazine to name a few.

The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading) Click here to read amazon customer reviews and rating

MTF1 profit factor 2.2 and experted payoff 138 for EURUSD H1 timeframe

This Expert Advisor is from my Cook Book. If you are interested in getting this EA and many other 200+ EA, please purchase it USD$79 here.

Forex Automation has come a long way and this is just one of my many 200+ EA call the (BFR CB) Best Forex Ranking Cook Book, you can find out more about this and how to start in the trading journey start (click on here) here.

I did a simulator run with the MT4 Strategy Tester for all date and time.

MTF1.mql
H1 Time Frame
EURUSD Currency

(Click on image to see detail).

Summary of results

Initial deposit $10k
Total net profit $11k
Gross profit $21k
Gross loss -$10k
Profit factor 2.11
Expected payoff 138.38
Absolute drawdown 106

This articles will review the trading results from Expert Advisor FAP Turbo, GPS Forex, Forex Megadroid, Leo Trader Pro, Forex Bulletproof, Million Dollar Pips, Forex Growth Bot and Forex Over Drive.

Before the start of review, some simple notes on the measurement I used. Return on investment is the rate of profit/loss over time that is express in percentage over your starting capital. Profit Factor is the numerical figure express by profit divide by losses. Max draw down is the lowest amount in your trading account with unrealized losses and margin hold as a percentage of your trading fund available.

FAP Turbo

This review is based on strategy results from 1999 to 2011. With 14088 trades over 12 years which equal to 97 trades monthly. The currency is EURCHF on a 15 minutes trading chart. With a starting account of $10k in 1999, by 2011 it reached 1 million dollars. With a high profit factor of 31.77, low draw down of 0.32% and a Return of Investment of 207% monthly.

GPS Forex

Base on the website posted strategy tester, over 5 years of trading, with total 995 trades which is about 17 trades monthly. It scores a profit factor of 2.84 with 5.68% of max draw down. It calculated a Return of Investment of 28% monthly.

Forex MegaDroid

It did not publish any simulated strategy tester results but did posted past 10 years trading records. With a starting capital of $10k, it show account starting with $10k profited to $34k in 2009, $62k in 2008, $61K in 2007, $33k in 2006, $81k in 2005, $67k in 2004, $65K in 2003, $44k in 2002 and $59k in 2001. This Expert Advisor achieved and overall 19.8% Return on Investment monthly.

Leo Trader Pro

The simulation results over 4 years show total trade executed 7936. The account started with $10k, ballooned to 98k in 4 years time, achieving a Profit Factor of 2.85, maximum drawdown of 5.84% and return of investment 32% monthly.

Forex BulletProof

The Expert Advisor did not publish any trading summary from the strategy tester, instead it provided 3rd party verification account summary. Over 3 months trading with 477 trades, starting with $4k account, it grow to $5.1k, effective giving a Profit Factor of 1.32, maximum draw down of 19% and a monthly Return on Investment of 11%

Million Dollar Pips

Over 1 year, the trade account from $10k starting ended with $2.4 millions over a year times. This produces low draw down of 6.58% and a Profit Factor of 2.13. The entire year gives an astonishing 925% Return on Investment monthly.

Forex Growth Bot

This expert advisor provided simulation results over 5 years which show starting account of $500 turn into $200k. With an overall Profit Factor of 1.66 and a maximum draw down of 9.05% over 2161 trades executed. This yield a wonderful 148% Return On Investment monthly.

Forex Over Drive

Only a short tested strategy result is posted with only 34 trades. The account yield 5.8% Return on Investment monthly and a maximum draw down of 21%. No profit factor given or can be calculated.

Overall

Due to its low drawn down and high profit factor, FAP turbo is rank first among the rest. The Next recommended Expert Advisor is Million Dollar Pips with the high 925% Return on Investment despite it ranking in only at number 6. All Expert Advisor rank 2nnd to 6th are in the same 4 star rating category. Visit my website for more details of each Expert Advisor reviews.

source http://www.amazines.com/article_detail.cfm/4588170?articleid=4588170.

While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to "look over the shoulder" of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.